<SEC-DOCUMENT>0001104659-20-064796.txt : 20200521
<SEC-HEADER>0001104659-20-064796.hdr.sgml : 20200521
<ACCEPTANCE-DATETIME>20200521163242
ACCESSION NUMBER:		0001104659-20-064796
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200519
FILED AS OF DATE:		20200521
DATE AS OF CHANGE:		20200521

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Gulf Hungary Holding Korlatolt Felelossegu Tarsasag
		CENTRAL INDEX KEY:			0001783455
		STATE OF INCORPORATION:			K5
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12019
		FILM NUMBER:		20902313

	BUSINESS ADDRESS:	
		STREET 1:		FURJ UTCA 2
		CITY:			BUDAPEST
		STATE:			K5
		ZIP:			1124
		BUSINESS PHONE:		36-1-6464628

	MAIL ADDRESS:	
		STREET 1:		FURJ UTCA 2
		CITY:			BUDAPEST
		STATE:			K5
		ZIP:			1124

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			QUAKER CHEMICAL CORP
		CENTRAL INDEX KEY:			0000081362
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS PRODUCTS OF PETROLEUM &  COAL [2990]
		IRS NUMBER:				230993790
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		ONE QUAKER PARK
		STREET 2:		901 HECTOR STREET
		CITY:			CONSHOHOCKEN
		STATE:			PA
		ZIP:			19428
		BUSINESS PHONE:		6108324000

	MAIL ADDRESS:	
		STREET 1:		ONE QUAKER PARK
		STREET 2:		901 HECTOR ST
		CITY:			CONSHOHOCKEN
		STATE:			PA
		ZIP:			19428
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>tm2020583d3_4.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2020-05-19</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000081362</issuerCik>
        <issuerName>QUAKER CHEMICAL CORP</issuerName>
        <issuerTradingSymbol>KWR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001783455</rptOwnerCik>
            <rptOwnerName>Gulf Hungary Holding Korlatolt Felelossegu Tarsasag</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>BAH CENTER, 2 FURJ STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>BUDAPEST</rptOwnerCity>
            <rptOwnerState>K5</rptOwnerState>
            <rptOwnerZipCode>1124</rptOwnerZipCode>
            <rptOwnerStateDescription>HUNGARY</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2020-05-19</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>500000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>369498</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2020-05-19</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>500000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3904453</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By QH Hungary Holdings Limited</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Prepaid Variable Forward Sale Contract</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2020-05-19</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>1</equitySwapInvolved>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>350000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>350000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>350000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By QH Hungary Holdings Limited</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Capital contribution by the reporting person to QH Hungary Holdings Limited, a wholly owned subsidiary of the reporting person (&quot;QH Hungary&quot;) in exchange for one ordinary share of QH Hungary.</footnote>
        <footnote id="F2">On May 19, 2020, QH Hungary entered into a prepaid variable share forward transaction with Citibank, N.A. (&quot;Citibank&quot;)  The transaction is divided into 16 components (each a &quot;Component&quot;).  For each Component, QH Hungary is obligated to deliver to Citibank, on the settlement date (the &quot;Settlement Date&quot;) determined based on the specified scheduled valuation date within the period from April 28, 2022 to May 19, 2022, up to 21,875 shares of Common Stock of the Issuer (&quot;Shares&quot;) (or, at QH Hungary's option, an equivalent amount of cash) based on the average market price of the Shares determined as described below.  In exchange for assuming such obligation, QH Hungary received an upfront cash prepayment of $44,957,909.41.</footnote>
        <footnote id="F3">See Remarks.</footnote>
    </footnotes>

    <remarks>The number of Shares (or the cash equivalent) to be delivered to Citibank on each Settlement Date is to be determined as follows: (a) if the volume-weighted average price per Share on the relevant valuation date, as reasonably determined by Citibank by reference to the Bloomberg Page &quot;KWR &lt;equity&gt; AQR &lt;Go&gt;&quot; (or any successor page thereto) (provided that, if such price is not so reported for any reason or is, in Citibank's reasonable discretion, erroneous, a price determined by Citibank in good faith and a commercially reasonable manner) (the &quot;Settlement Price&quot;) is equal to or less than $149.00 per Share (the &quot;Forward Floor Price&quot;), QH Hungary will deliver to Citibank 21,875 Shares; (b) if the Settlement Price is between the Forward Floor Price and $180.00 per Share (the &quot;Forward Cap Price&quot;), QH Hungary will deliver to Citibank a number of Shares equal to 21,875 shares multiplied by a fraction, the numerator of which is the Forward Floor Price and the denominator of which is the Settlement Price; and (c) if the Settlement Price is greater than the Forward Cap Price, QH Hungary will deliver to Citibank a number of Shares equal to the product of (i) 21,875 Shares and (ii) a fraction (A) the numerator of which is the sum of (x) the Forward Floor Price and (y) the Settlement Price minus the Forward Cap Price, and (B) the denominator of which is the Settlement Price.</remarks>

    <ownerSignature>
        <signatureName>/s/ Judit Rozsa, Managing Director, on behalf of Gulf Hungary Holding Korlatolt Felelossegu Tarsasag</signatureName>
        <signatureDate>2020-05-21</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
